Black Friday has traditionally been a day when shoppers braved the crowds at their local malls to score huge discounts. However, in recent years, more consumers have opted to stay at home and shop online, leading to a record-breaking spending spree this year. In fact, 2024 saw the biggest-ever online Black Friday sales, with shoppers spending a staggering $10.8 billion online—marking an increase of over 10% compared to last year.
But what’s behind this shift toward e-commerce, and how has technology helped fuel this trend? Let’s take a deeper dive into this year’s Black Friday shopping habits, the factors driving them, and the expected surge in online spending during Cyber Monday.
source: David Dee Delgado/Getty Images
Black Friday Online Spending Hits Record Highs
According to Adobe Analytics, online shoppers spent a record $10.8 billion on Black Friday 2024, surpassing previous years by a significant margin. This figure is not only a 10% increase over 2023 but also more than double the $5 billion spent online in 2017. Even more astonishing, consumers were spending around $11.3 million every minute between 10 a.m. and 2 p.m. on Black Friday.
The E-Commerce Milestone
For years, Black Friday was synonymous with in-store shopping, but now, online shopping is firmly at the forefront of this retail holiday. Vivek Pandya, a lead analyst with Adobe Digital Insights, highlighted the significance of surpassing the $10 billion mark for Black Friday, a milestone that underscores the growing dominance of e-commerce in the holiday shopping season.
"As consumers increasingly shop on smartphones and embrace digital tools like mobile wallets and AI-powered chatbots, online shopping is poised for even further growth in the future," Pandya said.
The Mobile Shift: Shopping on the Go
One of the key drivers behind the record-breaking online sales was the rise of mobile shopping. Data from Salesforce revealed that 69% of all Black Friday purchases were made via mobile devices, a slight increase from 68% in 2023. The increasing comfort with mobile shopping tools, such as buy now, pay later options and mobile wallets, has made it easier than ever for consumers to make purchases on the go.
Retailers are also leveraging AI-powered chatbots to assist shoppers in finding specific items or navigating sales, further enhancing the mobile shopping experience.
The Role of Digital Shopping Tools
Tools like AI chatbots and personalized recommendations based on consumer behavior are changing the way people shop. These tools not only help consumers find the best deals but also improve the overall shopping experience, making it easier and faster to check out, especially on mobile devices.
In-Store Traffic Drops, but Discounts Still Drive Shoppers
While online shopping surged, foot traffic in brick-and-mortar stores saw a significant dip. According to Sensormatic Solutions, which tracks retail traffic, in-store visits were down by 8.2% on Black Friday compared to the previous year. This marks a noticeable trend away from traditional in-store shopping during Black Friday, as more consumers opt for the convenience of online deals.
However, not all retailers saw a decline. Stores that offered significant discounts were able to draw in more shoppers. For example, Forever 21—which offered 50% to 70% off—attracted lines of customers, while H&M, with a more modest 30% discount, saw less foot traffic.
Deep Discounts Still Drive Brick-and-Mortar Traffic
The high level of interest in stores like Forever 21 shows that despite the online boom, deep discounts still have the power to attract in-store shoppers. Retailers with substantial markdowns were able to lure customers in, proving that the lure of a great deal can still bring people through the doors.
source: CNN
Popular Black Friday Purchases
While many consumers were focused on deals in fashion and beauty, sales data reveals some interesting trends in product categories. According to Adobe Analytics, the most popular purchases on Black Friday included:
Beauty products: makeup, skincare, and hair care
Tech gadgets: Bluetooth speakers, headphones, and smartwatches
Home goods: bedding, linens, and espresso machines
Clothing: with a focus on deals in both casual and holiday attire
Gift cards: a favorite for last-minute shopping
Notably, inflation played a role in driving up sales numbers this year, as consumers were willing to take advantage of deep discounts to offset higher costs across categories.
Cyber Monday: The Online Shopping Frenzy Continues
As Black Friday gave way to Cyber Monday, the shopping frenzy continued. Retail analysts predict Cyber Monday 2024 will be the biggest shopping day of the season—and even the year—with an expected $13.2 billion in sales, a 6% increase from the previous year.
Retailers are counting on Cyber Monday to offer even deeper discounts and exclusive online-only deals, especially in categories like electronics, fashion, and toys. As e-commerce continues to dominate, Cyber Monday is expected to further cement its place as the ultimate online shopping day of the year.
Conclusion: The Future of Black Friday Shopping
The rise of online shopping on Black Friday represents a major shift in consumer habits, with mobile devices, digital tools, and AI playing a pivotal role in shaping the shopping experience. With record-breaking spending and an expected surge in Cyber Monday sales, it's clear that e-commerce is no longer just a supplement to in-store shopping—it has become the dominant force in retail during the holiday season.
As consumers increasingly embrace the convenience and efficiency of online shopping, retailers will continue to innovate and refine their digital strategies to stay competitive. For shoppers, this means even more opportunities to score great deals—but also a need for awareness and discipline to avoid falling victim to the psychological tricks that drive impulse purchases.
